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ETH Whales Amplify Sales in Market Correction Conditions

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by Giorgi Kostiuk

a year ago

The cryptocurrency market is under scrutiny as Ether's prices come under pressure. Major players are increasing sales seeking stability.

Whale Sells Millions of Dollars in ETH

According to Onchain Lens data, a major investor recently used a new wallet to sell 1,521 Ether tokens for $4.95 million DAI in a single transaction. Additionally, the investor sold a total of 2,154 Ethereum coins for $7.05 million DAI. Previously, the investor sold 10,070 ETH for $33 million DAI, losing $1 million in the process.

Ether's Price Challenges

Ethereum's prices remain in the $3,200 to $3,384 range. Part of the struggle is due to token sales conducted by the Ethereum Foundation. These sales have drawn mixed reactions from users.

Outlook for Ethereum

Ether-based ETFs could renew investor interest. This may lead to price increases and reduced volatility. However, the current situation with major sales creates uncertainty in the market.

Investing in stable cryptocurrencies makes the market more predictable in the short term.

Major ETH sales highlight complex conditions in crypto markets. Prospects remain uncertain while key factors persist.

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